US: Atlanta Federal Reserve Bank President Dennis Lockhart Speech

The Atlanta Fed's Lockhart in his prepared remarks did not address monetary policy or the economy. He noted that there needs to be a balance between banking innovation and limiting risks through regulation. However, during Q&A he stated that mid-year (this year) or a little later is appropriate for the first rate hike. He also noted that rate increases could be delayed if the economy is soft. Lockhart sees recently soft data as transitory. Lockhart's approach to unwinding the Fed balance sheet appears to be simply stop reinvesting.

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